Lakshmi Mittal tops UK’s Richest Power list; Sarin at 24th
Steel tycoon Lakshmi Mittal figures right on the top of a new “richest power list”, compiled after combining two separate rankings of the most powerful & the most richest in the UK. Giving Mittal Company on the new list, compiled by The Times newspaper, is another Indian-origin executive Arun Sarin, the world’s top mobile firm Vodafone’s outgoing CEO, who has made it to 24th in the combined list, even though he does not figure among the top 1,000 richest persons ….
Read More: Lakshmi Mittal tops UK’s Richest Power list; Sarin at 24thAustralia: “We won’t sell uranium to India”
Australia government has on Monday said that they won’t sell uranium to India. Australia will keep its ban on selling uranium to India because of New Delhi’s refusal to sign the Nuclear Non-Proliferation Treaty. Foreign Minister Stephen Smith said, “We’ve had as a party a long standing policy position of only exporting uranium to countries who are party to the Nuclear Non-Proliferation Treaty”.
He said, “India for its own reasons is not a party to that”. The former Australian government followed ….
Ford India launched new Fiesta model
Ford India has launched a new sports variant of their Fiesta Sedan. This new model has been named Fiesta S. The company claims that this car can clock 0-100 km in 11 seconds. The new model Fiesta S comes with the choice between Ford India’s Duratec (petrol) & Duratorq (turbodiesel) engines.
Michael Boneham, president of Ford India in a release said that the bold styling of new Fiesta indicates a clear move toward European design cues & is a true reflection ….
BSNL resduced STD rates up to 50 pc
BSNL has announced a 40-50 percent reduction in STD charges of cellular services under various plans. It also announced to slash the call charges of landline services by 50 per cent. Under the landline services, STD rates have been reduced from Rs 2.40 to 1.20 paise per minute to all networks in general and “sulabh” plan.
The intra-circle call charges, to BSNL network and inter circle (STD) call charges to all the networks, has also been reduced by 50 per cent. ….
Neelam Dhawan quits Microsoft, join HP
Neelam Dhavan the Microsoft India Managing director has quit Microsoft & joined HP India as the MD. Dhawan, a veteran of over two decades in the IT industry, became the MD of Microsoft in 2005, taking over from Rajiv Kaul.
Dhawan’s earlier stint at HP was in capacity of vice president, Customer Solutions Group. Prior to joining HP in 1999, Dhawan had served in IBM & HCL. A blog posted on May 28 had claimed that Dhawan was interviewed twice at ….
Tata Motors launched LPG version of Indica V2 Xeta
Tata motors has launched a new model of their Indica car. This new model is named as Indica V2 Xeta LPG. The car comes equipped with a dual fuel engine for petrol & LPG. The company said that this model is powered with a 1.2 liter MPFI engine featuring two Electronic Control Units.
Tata Motors said, “The model is equipped with a dual fuel engine, which reduces ….
Anil Ambani’s firm entered Hollywood
Anil Ambani’s Reliance Big Entertainment has signed deals to provide development funds to eight leading creative forces in Hollywood. Reliance Big Entertainment on Sunday announced a slew of deals with production firms of Hollywood stars including Tom Hanks, Brad Pitt & Jim Carrey, marking its entry into the Mecca of films.
The Hollywood entities involved in the development deals, brokered by Los Angeles-based Creative Artists Agency (CAA), are Cage’s Saturn Productions, Carrey’s JC 23 Entertainment, Clooney’s Smokehouse Productions, Columbus 1492 Pictures, ….
Reliance shuts all of its petrol pumps in India
Reliance Industries has shut all of its petrol pumps throughout country after sale dropped to almost nil as it could not match the subsidised price offered by public sector competition.
The company owned less than three per cent of the 36,936 petrol pumps in the country. Of the total retail outlets, state-run Indian Oil, Bharat Petroleum & Hindustan Petroleum own 34,304 pumps, while the remaining belong to private sector Essar Oil & Shell India.
Petroleum Minister Murli Deora said in Rajya Sabha, ….
Microsoft withdraw its offer to buy Yahoo
Microsoft has withdrew its proposal to acquire Yahoo on Saturday. Microsoft CEO Stephen Ballmer said in a letter to Yahoo that Microsoft withdrew its proposal to acquire Yahoo.
Stephen Ballmer said in his letter posted in Microsoft website, “We continue to believe that our proposed acquisition made sense for Microsoft, Yahoo & the market as a whole. Despite our best efforts, including raising our bid ….
Mukesh Ambani’s $2 billion home world’s most expensive
According to the Magazine Forbes the 27-storey skyscapper built in Mumbai by the fifth richest person in the world Mukesh Ambani, will be the world’s largest & costliest home with a price-tag nearing two billion dollar.
It’s the world most expensive home at $2 billion dollars. It’s located in Mumbai, India & when it’s complete it will be 400,000 sq ft & 27 floors high.
The cost for the Ambani residence, called “Antilla” whose shape is based on Vaastu, would ….
CRR hiked by 25 bps, repo rate unchanged
The Reserve Bank of India has left the repo & reverse repo rate untouched. The central bank has, however, gone in for another 25 basis points (bps) hike in CRR to 8.25 per cent in the annual policy announced on Tuesday. This will drain the system of Rs 9,250 crore of liquidity.
The CRR has been hiked on the review of ongoing liquidity situation. RBI aims at bring down inflation to 5.5 pc in 2009.
The money supply targets have ….
Reliance Industries financial results on April 21
The Mukesh Ambani has said on Monday that the Reliance company will announce its yearly financial results on 21 April.
In a communique to the Bombay Stock Exchange, it said a meeting of the board of directors of the company would be held on April 21 to consider & approve the financial results of the company for the year ended on March 31, 2008 & to recommend dividend on equity shares of the company.
Reliance launched “free unlimited outgoing calls” in Punjab
Reliance Communications announced a special offer for its existing & new subscribers in Punjab called “Free Unlimited Outgoing Calls” to all Reliance mobile subscribers in the state on Monday. An official of Reliance company said that now Reliance subscriber can made unlimited calls to more than 10 lakh Reliance Mobile subscribers in Punjab, including Chandigarh, for just Rs 99 per month.
The official also said that this offer will enable a large cross section of users including businessman, students, professionals, housewives ….
Cars, ACs set to be dearer
From April prices of most cars, automobiles & white good will decreased. Cars, ACs are set to be dearer. The steep increase in prices of steel, aluminum & copper will be passed on to the consumer, who will now have to sheel outmore money to buy these goods. Though the excise duty cut announced in the Budget proposals had led to the prices of these goods being marginally cut, this benefit has come to a naught because of hike in ….
Read More: Cars, ACs set to be dearerMaruti Suzuki launched Swift DZIRE
Swift DZIRE has been launched on Wednesday by Maruti Suzuki India Ltd (MSIL). Managing Director of Maruti Suzuki India Ltd said, “It has a special place in our product strategy. Millions of Indians own compact cars. With growing incomes & better lifestyle, many of them want to upgrade to a sedan. But today, they are not able to find an entry level sedan that offers style, features & performance. The DZire offers all this ….
Read More: Maruti Suzuki launched Swift DZIREWarren Buffett becomes World’s richest person
Bill Gates the Microsoftt founder has been knocked off his perch as the world’s richest man after 13 years at the top. Bill Gates has overtaken by US financier Warren Buffett as the world’s richest in this year’s list, which saw Russia, China & India making increasing inroads.
Mr Buffett, the 77 years old chief of the Berkshire Hathaway, saw his wealth jump from $US52 billion ($55 billion) last year to $US62 billion ($66 billion), pushing Microsoft co-founder Mr Gates into ….
HMSI launched new scooter “Aviator”
HMSI Honda Motorcycle & Scooter India on Sunday launched a latest 102 cc scooter named as “Aviator” whose price is Rs. 40,708/ (ex-showroom) in Hyderabad.
HMSI said, “The company after successfully reviving the scooter market from the brink of extinction is now set to redefine the positioning of scooters. The Hyderabad market provides HMSI an immense opportunity to expand & the company is looking forward to introduce & promote its range of products further in the city. The All India launch ….
US Fed cuts key interest rate
The Federal Reserve of US on Wednesday reducing the federal funds rate by a half point & cut a key interest rate for the second time in just over a week. It signalled that further rate cuts were possible. The half-point cut Wednesday followed news that the economy had slowed significantly in the final three months of last year with the Gross Domestic Product expanding at a barely discernible pace of 0.6%, less than half what ….
BSE Sensex down
Indian Stock markets are down in the early trades today. The BSE Sensex has lost over 100 point early in the morning. The valuations of some companies are looking over-stretched. Bajaj Auto was down by 2.3% and was trading at Rs 2307. ITC was also down. DLF was up.
BHEL, SBI and Tata Steel were up in BSE. Steel Major SAIL was trading at Rs 222 with a gain of nearly 3 percent. Suzlon Energy was among major losers on NSE.
Mittal & Ambanis World`s Wealthiest CEOs: Forbes
Steel tycoon Lakshmi Mittal & Ambanis – Mukesh Ambani and Anil Ambani & Wipro chief Azim Premji, are among the 10 wealthiest CEOs in the world, according to American magazine Forbes.
Out of the world’s 10 wealthiest CEOs, four positions have been taken by Indians –
Lakshmi Mittal 2nd
Mukesh Ambani 6th
Anil Ambani 7th and
Wipro chief Azim Premji 9th.